Citigroup Inc. Sells 8,755 Shares of Trex Company, Inc. (NYSE:TREX)

Citigroup Inc. decreased its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 10.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 74,135 shares of the construction company’s stock after selling 8,755 shares during the quarter. Citigroup Inc.’s holdings in Trex were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in Trex by 21.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,795 shares of the construction company’s stock worth $1,881,000 after purchasing an additional 5,105 shares during the last quarter. Bank of Montreal Can boosted its stake in Trex by 38.1% during the first quarter. Bank of Montreal Can now owns 18,867 shares of the construction company’s stock worth $1,353,000 after buying an additional 5,210 shares during the period. D.A. Davidson & CO. purchased a new position in Trex during the first quarter worth $204,000. Great West Life Assurance Co. Can boosted its stake in shares of Trex by 7.6% during the first quarter. Great West Life Assurance Co. Can now owns 62,354 shares of the construction company’s stock valued at $4,190,000 after purchasing an additional 4,387 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in shares of Trex by 23.3% during the first quarter. Raymond James Trust N.A. now owns 5,111 shares of the construction company’s stock valued at $334,000 after purchasing an additional 966 shares during the period. Institutional investors own 94.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TREX shares. Bank of America raised shares of Trex from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $66.00 in a research note on Tuesday, May 9th. Credit Suisse Group restated an “underperform” rating and set a $43.00 price objective on shares of Trex in a report on Tuesday, February 28th. Robert W. Baird upped their price objective on shares of Trex from $58.00 to $62.00 in a report on Tuesday, May 9th. Benchmark upped their target price on Trex from $64.00 to $67.00 in a research report on Tuesday, May 9th. Finally, DA Davidson upped their target price on Trex from $48.00 to $58.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.13.

Trex Stock Up 0.0 %

Shares of TREX opened at $56.57 on Tuesday. Trex Company, Inc. has a 52-week low of $38.68 and a 52-week high of $67.78. The company has a market capitalization of $6.15 billion, a PE ratio of 40.70, a price-to-earnings-growth ratio of 4.57 and a beta of 1.49. The stock has a fifty day simple moving average of $51.98 and a two-hundred day simple moving average of $49.63.

Trex (NYSE:TREX – Get Rating) last issued its earnings results on Monday, May 8th. The construction company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $239.00 million during the quarter, compared to the consensus estimate of $237.65 million. Trex had a return on equity of 30.02% and a net margin of 15.37%. The company’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. As a group, equities analysts anticipate that Trex Company, Inc. will post 1.61 earnings per share for the current fiscal year.

About Trex

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.